Consumers are willing to pay more for new autos

7:39 AM,
Jun. 1, 2012

Edmunds.com reports that in April, the average price shoppers paid for new cars was up 2.1 percent from a year ago. Among brands with the biggest gains, Chevrolet, with models such as the Malibu, was up 5 percent.

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As the auto industry prepares to report expected strong May sales today, it's seeing evidence that buyers are willing to pay more for new cars.

The average sticker price on new cars buyers selected over the Memorial Day weekend was $36,213, up 5.6 percent from the same weekend last year, according to CNW Research.

Car research site Edmunds.com reports that in April, the average price shoppers actually paid was $30,320, up 2.1 percent from a year ago. Brands with the biggest gains included Chevrolet at 5 percent, Porsche at 4.9 percent and Infiniti at 4.7 percent. ...